Maurice Parry-Wingfield, until recently a director in Deloitte's Tax Policy Group and now retired, is disappointed with HMRC's recent guidance on depreciation in stock
Maurice Parry-Wingfield until recently a director in Deloitte's Tax Policy Group and now retired is disappointed with HMRC's recent guidance on depreciation in stock
In Mars and William Grant [2007] STC 680 the House of Lords definitively established that the depreciation to be added back in tax computations was not the gross amount written off fixed assets as HMRC had contended but the net after carrying any part of it forward in trading stock. What more can I possibly say about this having written an article on these judgments published in The Tax Journal Issue...
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Maurice Parry-Wingfield, until recently a director in Deloitte's Tax Policy Group and now retired, is disappointed with HMRC's recent guidance on depreciation in stock
Maurice Parry-Wingfield until recently a director in Deloitte's Tax Policy Group and now retired is disappointed with HMRC's recent guidance on depreciation in stock
In Mars and William Grant [2007] STC 680 the House of Lords definitively established that the depreciation to be added back in tax computations was not the gross amount written off fixed assets as HMRC had contended but the net after carrying any part of it forward in trading stock. What more can I possibly say about this having written an article on these judgments published in The Tax Journal Issue...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")